Monday, September 26, 2005

Report from the open house front

There was a definite but minor spike in traffic in yesterday's open houses but it waned considerably at the end of the day. Buyer behavior has definitely has become more jaded and honest. At one open house a pair buyers whispered audibly how an apartment I was showing was crap and there were moments where I had to play Karl Rove but it all seemed futile.

They are no longer tolerant of the current prices since it does not reflect the current reality. There is more inventory on the market and interest rates are on the way up. And with all of this chaos ranging from the hurricanes, oil prices and the long-term police actions occurring overseas, it seems that irrational exuberance is running its course. As far as buyers are concerned this seller's market is so OVAH!. Because of this discerning mentality sellers are unable to get away with what they used to.